DESPITE MARTIAL LAW, MARAWI SIEGE

MPIC to expand Mindanao investment

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BUSINESSMAN Manny V. Pangilinan said his conglomerate Metro Pacific Investments Corporation (MPIC) plans to increase its investment in Mindanao despite the recent terror incident in Marawi City that triggered the declaration of martial law in the entire Mindanao region.

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“Mindanao is still in our radar. Expect an announcement of investments in Mindanao soon,” Pangilinan told members of the press during MPIC’s annual stockholders’ meeting on Friday.

“Most likely it will proceed because it would be a long-term investment. It’s not just for tomorrow,” he said.
Noting that one must have faith in the Philippines and in its leadership, Pangilinan said he remains positive in pursuing business in Mindanao.

“We need to have faith in our country and the leadership,” he said.

Without disclosing specific details, he said the planned investment would be in the transport business.

MPIC already has a presence in Mindanao through the Davao Doctors Hospital in Davao City and West Metro Medical Center in Zamboanga City.

Earlier, Pangilinan said MPIC wanted to “improve the overall logistics” in the country. Through its subsidiary PremierLogistics Inc., MPIC acquired another logistics firm, Ace Logistics, last January.

Meanwhile, MPIC is hopeful of its renewed offer to the government to rehabilitate the Metro Rail Transit-3 System.

“If we can make our Light Rail Transit-1 profitable, we are certain we can make our MRT-3 just as efficient,” MPIC President Jose Lim said.

MPIC is part of the consortium that operates the LRT-1. In 2011, MPIC submitted a proposal to the government to rehabilitate the MRT-3.

“We have submitted a proposal in 2011 to rehabilitate the MRT but the government did not act on it,” Lim said,
“Now, they have decided to look at the proposal,” according to Lim.

Department of Transportation Undersecretary Cesar Chavez earlier said that the transport department was studying the possibility of privatizing the MRT-3 and assigning the Light Rail Transit Authority, operator of LRT-2, to be its regulator.

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